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Danielle owns a vacation cottage. During the current year, she rented it for $1,500 for 2 weeks, lived in it for 2 months, and left
Danielle owns a vacation cottage. During the current year, she rented it for $1,500 for 2 weeks, lived in it for 2 months, and left it vacant the remainder of the year. The year's expenses were $6,000 mortgage interest expense, $500 property taxes, $1,500 in utilities, and $2,400 depreciation. As a consequence of the above, which of the following is true? (Points : 6)
The income is excluded. The mortgage interest and property tax expenses are itemized. Other expenses are nondeductible personal expenses. All of the above A and B only
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